HomeMy WebLinkAboutResolution No. 2002-109 Deferred Compensation Amendment Plan I and IIRESOLUTION INO.2002-109
A RESOLUTIOI\
THE FIRST AMENDMEl`
DEFERRED COMPENSA
WHEREAS, the City of Edina adopted resolut
compensation, and on December 21, 1998, adopt
restatement of the City of Edina Deferred Comp(
Compensation Plan II (hereinafter referred to as
then in effect, and to authorize the adoption jof t
January 1, 1999;
WHEREAS, the City of Edina reserved theig
amended and restated Plans;
WHEREAS, for years beginning after December
Reconciliation Act of 2001 made significant cl
provisions governing deferred compensation pias
section 457 of the Code;
WHEREAS, for years beginning after Decemlber
sections 401(a)(9), 414(v), and 457 of the Codle h,
regarding the law governing plans subject to the re
WHEREAS, it has been proposed that the City) of
required to comply with the changes in the law,
Revenue Service, and to take advantage of oppprti
WHEREAS, a First Amendment of City of
Amendment of City of Edina Deferred Comp
to the City of Edina for review and considerati
APPROVING l_af-�' f EAIM
r OF CITY OF EDINA
CION PLANS I AND II
is on January 5, 1998, 1regarding deferred
resolutions to authorize he amendment and
ation Plan I and the Cit of Edina Deferred
c "Plans"), to comply ith applicable laws
amended and restated lans effective as of
to amend the Plans undef section 9.1 of the
., 2002, the Economic Gr wth and Tax Relief
Iges to the Internal Reve ue Code ("Code")
including plans subject to he requirements of
1, 2002, regulations and idance regarding
e been issued by the Dep ment of Treasury
.iirements of section 457 c f the Code;
Tina authorize the zendlifient of the Plans as
reflect the guidae iss ed by the Internal
ities made available under the law;
Deferred Compensation Plan I and a First
n Plan II have been prep red and presented
WHEREAS, it has been proposed that the City of Bina approve and author' e the adoption of
the First Amendment of City of Edina Deferred Compensation Plan I and th First Amendment
of City of Edina Deferred Compensation Plan 1I, i substantially the form prsented to the City
of Edina, effective as of the dates provided for in th se amendments.
NOW, THEREFORE, BE IT RESOLVED, thaIdd
e City of Edina her by approves and
authorizes the adoption of the First Amendment ofy of Edina Deferred C pensation Plan I
and the First Amendment of City of Edina DeferrCompensation Plan II i substantially the
form presented to the City of Edina, effective as odates provided for in t ose amendments,
and hereby authorizes and directs the City M,ana of the City of Edina arrange for the
execution of said amendments in substantially tl, fpresented to the City o Edina and to take
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whatever actions are necessary or appropria
as of the effective dates provided in those ar
BE IT FURTHER RESOLVED, that the C
Manager of the City of Edina to do and peri
carry out the actions herein described and to
ATTEST:
City Clerk
STATE OF MINNESOTA )
COUNTY OF HENNEPIN )SS
CITY OF EDINA )
I, the undersigned duly appointed and ac
certify that the attached and foregoing Ri
Council at its Regular Meeting of Decem
said Regular Meeting.
to but said amendments into final form and effect
Edina hereby authorizes ' d directs the City
,ery other act necessary aj id proper in order to
plish the objectives herein stated.
ZITY CLERK
;ity Clerk for the City o Edina do hereby
ion was duly adopted y the Edina City
2002, and as recorded in the Minutes of
WITNESS my hand and seal of said City th� day of (-JeC_ I , 20-�
�I
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